Belgian battery-materials manufacturer Umicore has completed its purchase of cobalt refining and cathode precursor activities in Kokkola, Finland, from Freeport Cobalt for $203 million.
The purchase is on a debt and cash-free basis and includes about $50 million of net working capital. It is anticipated that the acquisition will be earnings accretive from 2020 and value accretive from 2021, Umicore said on Monday December 2.